Sax LLP Notes Payroll Changes In New York City, New York State

Industry-leading accounting, tax and advisory firm Sax LLP has published information that details and explains recent payroll tax rate changes in New York City, New York State and Philadelphia that went into effect recently, on July 1. Sax maintains offices in both New York City and New Jersey, works with a variety of organizations in a wide-range of industries in the tri-state area and frequently publishes industry specific news and updates on its website, which is listed below.

The information from Sax LLP describes each of the recent payroll tax changes in detail, beginning with a withholding tax rate change in New York City. The rates have changed, according to Sax, for employees who earn $500,000 or less per year. After noting the change, the advisory firm acknowledges that though it is not a significant change, it will still be relevant for payroll departments. “If your company prepares payroll in-house,” advises Sax, it is important to make sure the tables are updated.”

Sax goes on to explain a recent change in paid family leave that affects all of New York State. Beginning on July 1, 2017, Sax writes, employees are now able to deduct time in accordance with the Paid Family Leave program until the program officially begins on January 1, 2018. “On that date,” reads the information, “the deduction will be mandated for all full-time and part-time employees in the private sector.”

A wage rate change in Philadelphia is also reported by the multi-disciplinary tax, accounting and advisory firm. The wage tax rate is now slightly lower—by a fraction of a percentage point—for both residents of the city of Philadelphia and also for non-residents who work in the city.

The firm is a member of the prestigious RSM U.S. Alliance, an association of the top independent accounting and consulting firms throughout the United States. Sax’s membership in the alliance provides its client’s with access to the group’s vast network of resources, experts and experience. Further company details can be found at https://plus.google.com/b/115802868791237517790/115802868791237517790?hl , or by using URL https://goo.gl/xMY1Ym . Their latest posts can be found at https://plus.google.com/b/115802868791237517790/115802868791237517790/posts/ipcuSZ2yT5h?hl=en

For more information on the aforementioned mid-year payroll tax rate changes in New York City, New York State and Philadelphia or on the services offered by Sax LLP, the firm may be contacted by utilizing the contact information provided below. They can be followed at https://www.yelloyello.com/places/sax-llp-clifton